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2024 HONDA BUSINESS BRIEFING: ELECTRIFICATION INITIATIVES AND INVESTMENT STRATEGY UNVEILED

2024 HONDA BUSINESS BRIEFING: ELECTRIFICATION INITIATIVES AND INVESTMENT STRATEGY UNVEILED

May 16, 2024, in Tokyo, Japan,

Honda reaffirmed its commitment to electrification, emphasizing EVs as the primary solution for small mobility products like motorcycles and automobiles. The company aims for EVs and FCEVs to represent 100% of its global vehicle sales by 2040. Honda plans to establish a vertically-integrated EV value chain focused on batteries, aiming to reduce battery costs by over 20% in North America by 2030 and overall production costs by approximately 35%.

 

The Honda 0 Series, a global EV series, will feature seven models by 2030, ranging from small to large sizes. Honda will introduce micro-mobility products powered by Honda Mobile Power Packs and enhance its EV lineup strategy globally. Financially, Honda plans to invest around 10 trillion yen by 2030 to support its electrification initiatives, focusing on R&D, EV value chains, and production facilities.

 

Honda's President, Toshihiro Mibe, highlighted the company's commitment to EVs, aiming for EVs and FCEVs to represent 40% of global auto sales by 2030. The Honda 0 Series will embody a new EV development approach of "Thin, Light, and Wise," offering attractive, efficient, and technologically advanced EV models. Honda will also focus on establishing a comprehensive EV value chain and advancing EV production technologies and facilities.

 

Furthermore, Honda plans to link its operations with real-time data to enhance customer experiences and optimize its EV lineup strategy. The company will introduce various EV models globally, including the Honda 0 Series and hybrid-electric models. Honda's financial strategy involves strategic investments to support its electrification goals while ensuring shareholder returns through stable dividend payments and share buybacks.

 

In summary, Honda's comprehensive approach to electrification involves innovative EV models, a focus on battery technology, and strategic investments to drive sustainable growth in the evolving automotive industry.

 

Read the full press release here:
HONDA NEWS

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